Agrim Raises $17.3M to Streamline Agri-Input Supply in India

India's Agrim has raised $17.3 million to streamline the supply of agricultural inputs to farmers. The startup connects retailers and manufacturers, focusing on seeds, pesticides, and tools. Agrim's platform simplifies ordering, logistics, and pricing for a fragmented market.

Agriculture is a major sector in India, supporting over 42% of the population and contributing 18% to GDP. However, the agri-input market is disjointed, heavily relying on traditional offline channels. Agrim aims to modernize this sector with a just-in-time supply chain.

Mukul Garg, co-founder, has a background in logistics and e-commerce. Agrim's platform features a user-friendly interface and a custom order management system. The startup also offers credit to retailers, currently used by 10% of their base.

With this funding, Agrim plans to expand its catalog to 150,000 items and enter new markets in southern and western India. They also aim to introduce private-label products to provide affordable inputs to farmers.

Agrim serves 15 million farmers through 1,200 manufacturers and 25,000 retailers. The startup's revenue was over $36 million last year, with a current run rate of nearly $60 million.

Key Terms:

• Agri-inputs: Products essential for agriculture, such as seeds, pesticides, and tools.
• Just-in-time supply chain: A logistics strategy that aims to deliver goods exactly when needed, reducing inventory costs.
• Private-label products: Goods manufactured by a third party but sold under a specific retailer's brand.